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Gold/Mining/Energy : Halliburton-On the rise? -- Ignore unavailable to you. Want to Upgrade?

To: Prophet who wrote (69)	1/18/2002 8:14:25 PM
From: Jerome	Read Replies (1) \| Respond to of 153

KM and HAL... the comparisons are valid because both are highly distressed companies. A lot of money can be made by investing in distressed companies. Remember Michael Price...He ran a fund called "Mutual Shares" for 20 years and invested only in distressed companies about to go into bankruptcy. Some did but most didn't. Phenomenal returns . In 1975 I had a client put $2000.00 in that fund. Without a single addition by 1995 it was up to $32,000. The asbestos litigation will not go away. There are still 11,000 claims...most will be setteled for a few hundred dollars, but some of those will home runs in the $25 million dollar category. (as we have already seen).Even without paying out much cash the legal fees will run into the 100's of millions of dolars. Not to mention the distraction to the company. FMO was a big company (50,000 employees) HAL (at 93,000) has more employees. Corning ( I don't know) (the insulation maker) and they both had to file bankruptcy. Both companies were saying the same thing that Halliburton is saying now. Look at the markets attitude right now....can anyone trust any oil company after ENE??? Maybe, HAL should hire Cheney back when Bush drops him from the ticket. (He is a liability..no matter how much Republican blood runs through your veins)... At any rate I tabulate a $1000 in HAL and a $1000 in KM as of todays close and we will see how it plays out. Have a good week-end...Jerome